30 November 2008

Texan of the Year

Ron Paul, who has always stood against U.S. imperial overreach, was right about the Iraq war. And that's not the only thing he saw that most Republicans did not.

His libertarian economic views are far from mainstream. For example, he's against income taxes, period, and believes the U.S. should go back on the gold standard. Eccentricities like this keep him from being taken seriously [even though Alan Greenspan has been a longtime advocate of returning to the gold standard--ed.].

But the truth is, if U.S. economic policy looked a lot more like Ron Paul's ideal than what we've had these past decades, the nation wouldn't be tottering on the financial abyss. Dr. Paul has long argued that an economy built on easy credit, insatiable consumption and deficit spending is a time bomb. He backs a national economic model based on savings, investment and production.

An economy that depends so heavily on government intervention to keep it afloat is one that creates of necessity an ever more powerful state. The nationalization of the banking sector only increases the power of the central government and decreases liberty. Dr. Paul warned for years against what we're seeing happen today. But nobody – including me – listened to the old crank....The same GOP establishment that mocked and reviled Dr. Paul now lies shattered. Who believes in this Republican Party anymore? The party destroyed itself with its own unprincipled recklessness, both in foreign and fiscal policy. And it has ruined its reputation among the young – the most ardent of Dr. Paul's supporters, incidentally....